Walter Breen
Silver Dollar. [755] Speculator activity in uncirculated coins has once again forced up the price level on proofs. In very slight justification one might argue that there actually are fewer of them than of proof dollars of 1898-1902, to which I would add that more of the survivors have been cleaned to death. Why 1903 has been so hard hit I cannot even guess, unless exceptionally sulfurous mint wrappers were again in use this year. VAM 1, "near" date.
Silver proof sets. [755] Formerly common enough, of late hardly ever offered save as obviously assembled groups mostly of poorly cleaned pieces. The breaking up of earlier sets apparently was mostly on behalf of collectors of silver dollars. Garrett's brought $2300.
Quarter Eagle. [197] Two minor varieties, date low and to r. on both, with and without obv. border die file marks 6:00-8:00. Often seen nicked, scratched and scrubbed. Auction records: $1,000 in the Ullmer sale of May 1974, for one not described as impaired, $1600 for Garrett's (cloudy).
Half Eagle. [154] Not nearly so often seen, but too many have been cleaned and nicked, e.g. Wolfson's, Ullmer: 472, Garrett:506 at $2000. No auction record unimpaired recent enough to give a fair idea of present day valuation. Same comment as to 1902.
Eagle. [96] Rare; identical comment as to half eagle. Uncleaned, this is a sleeper; Ullmer: 509 woke up at $4,250, followed by Garrett's at $4200.
Double Eagle. [158] Date slightly above center, slanting slightly down. Left base of 1 a little r. of left edge of a dentil. Same comment as to the half eagle. I cannot go along with the claim in the Wolfson catalogue that the date is so rare in proof as to suggest error in the mintage figures. Plenty of older records exist, but the modern ones are mostly of cleaned pieces. (Why 1903 has been so hard hit in the gold is more a mystery than with the silver: didthe sulfurous mint wrappers affect the alloy?) Aside from Garrett's at $6250, and Wolfson's, almost the only choice one auctioned in the last twenty years was that in KS 2/60; most others have been scrubbed or nicked up. Quoting the pathetic records on these would be a waste of time.
Silver Dollar. [755] Speculator activity in uncirculated coins has once again forced up the price level on proofs. In very slight justification one might argue that there actually are fewer of them than of proof dollars of 1898-1902, to which I would add that more of the survivors have been cleaned to death. Why 1903 has been so hard hit I cannot even guess, unless exceptionally sulfurous mint wrappers were again in use this year. VAM 1, "near" date.
Silver proof sets. [755] Formerly common enough, of late hardly ever offered save as obviously assembled groups mostly of poorly cleaned pieces. The breaking up of earlier sets apparently was mostly on behalf of collectors of silver dollars. Garrett's brought $2300.
Quarter Eagle. [197] Two minor varieties, date low and to r. on both, with and without obv. border die file marks 6:00-8:00. Often seen nicked, scratched and scrubbed. Auction records: $1,000 in the Ullmer sale of May 1974, for one not described as impaired, $1600 for Garrett's (cloudy).
Half Eagle. [154] Not nearly so often seen, but too many have been cleaned and nicked, e.g. Wolfson's, Ullmer: 472, Garrett:506 at $2000. No auction record unimpaired recent enough to give a fair idea of present day valuation. Same comment as to 1902.
Eagle. [96] Rare; identical comment as to half eagle. Uncleaned, this is a sleeper; Ullmer: 509 woke up at $4,250, followed by Garrett's at $4200.
Double Eagle. [158] Date slightly above center, slanting slightly down. Left base of 1 a little r. of left edge of a dentil. Same comment as to the half eagle. I cannot go along with the claim in the Wolfson catalogue that the date is so rare in proof as to suggest error in the mintage figures. Plenty of older records exist, but the modern ones are mostly of cleaned pieces. (Why 1903 has been so hard hit in the gold is more a mystery than with the silver: didthe sulfurous mint wrappers affect the alloy?) Aside from Garrett's at $6250, and Wolfson's, almost the only choice one auctioned in the last twenty years was that in KS 2/60; most others have been scrubbed or nicked up. Quoting the pathetic records on these would be a waste of time.
Gold proof sets. Not more than 96 could have been made, probably a few less. One was in the B. G. Johnson material, lot 1392 of the 1951 Schulman sale. Raymond and other early farsighted people had others. Garrett's, dispersed, totalled $14,050.
Complete proof sets. As in 1899. Those lately seen and privately offered (well into four figures) appear to have been assembled in recent years.
Commemoratives. Jefferson Gold Dollar. [100] (1) Smithsonian, fromCoiner, April 18, 1903; see notice below McKinley. (2) ANS. (3) Dunham: 1886. (4) Neil: 2574. (5) "Memorable": 77 set. (6) 1951 Schulman sale: 1339, ex B.G. Johnson estate. (7) Miles: 310. (8) 1973 GENA; 575 at $1,300. (9) Beck I: 597, $2,300. I have seen about seven others privately offered. They are true brilliant proofs and show considerably more hair detail on both portraits than do the uncirculated coins, even the early strikes. At least three of these proofs are accompanied by framed affidavits certifying each to be one of the first 100 struck, signed by Supt. Landis and the Chief Coiner.
-McKinley Gold Dollar. [100] As above including the affidavits. (1) Smithsonian, from Coiner April 18, 1903 (see notice below). (2) ANS. (3) Neil: 2575. (4) "Memorable": 77 set. (5) Miles: 309. I have seen slightly fewer of these but do not consider the difference in rarity of much Significance. A note in Mint Cabinet Accounts and Memoranda, dated April 18, 1903, is revealing enough: "Two pesos Filipinas:
One gold dol. St. Louis Expo. "Jefferson"; One ditto, "McKinley" - from the Coiner. Gave 5 old Mexican Dollars in ex'ge for same - 5.00". The Philippine peso now in the Smithsonian is a proof, as are these commemoratives. We may take April 18 as the approximate date of issue of proofs. As June 28, 1902was the date of the authorizing act, plainly the mint personnel took their jolly old time even from the beginning of 1903. This was perhaps understandable in that the coins were intended for a 1904 event.
Of tangential interest may be the remainder of the 1903 entries relevant to American accessions in the Mint Cabinet: "May 11. 2-50¢, 2-20¢, 2-10¢ Filipinas. Paid for same 2 old Mex Dol's 1806, 1807 @@ 1.00 (each)". These Philippine coins are also proofs; but there is no reference to the centavo or half centavo.
1904
Cent. [1817] No peculiarities. Quite a few of these show flaming golden brilliance, the untarnished original color. Others come toned brown or various other hues, or have been cleaned to artificial pink.
Five Cents. [1817] No peculiarities. Same comment as to 1902.
Minor proof sets. [1817] As in 1903.
Dime. [670] No variations noticed. Lowest proof mintage of the design so far, but not really rare nor favored by speculators.
Quarter. [670] Normal date, two minuscule positional variants. The 4 does not quite touch truncation on either of these, though it does on some nonproofs. Same comment as to dime.
- Bases of 19 recut, date well to left, left base of 1 about in line with corner of truncation, "Gilhousen" :781.
Half Dollar. [670] As above. Most specimens have been cleaned to death. A little higher in auction records than the last few dates because of date collector attention.